Metal Replacement Market Global Key Players, Trends, Share, Industry Size, Segmentation by 2023

The global metal replacement market is estimated to rise at a significant level during the forecast period (2017-2023) on account of the growing demand for metal replacing materials including plastics and composites in applications such as automobile, aerospace and defense industries.

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The global market for metal replacement is segmented into type, application and geography. On the basis of type, the metal replacement market can be categorized as engineering plastics and composites.

There has been a significant rise in the demand of metal replacing materials in the construction industry to replace steel bars for concrete reinforcements and to manufacture sewage systems on account of increasing projects in the housing construction market.

The composite segment can be further categorized as Carbon Fiber Reinforced Plastics (CFRP) and Glass Fiber Reinforced Plastics (GFRP). The composite segment is estimated to grow during the forecast period due to the growth in the carbon fiber reinforced plastics (CFRP) market.

The slow economic growth in North America and Europe due to economic crisis in 2008 posing an obstruction to the growth of metal replacement market. Therefore, demand projections for metal replacement materials has become a major challenge in these regions.

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Major players operating in the global metal replacement market include BASF SE, Celanese Corporation, Covestro AG, E. I. Dupont De Nemours and Company, Jushi Group, LG Chem, Ltd., Owens Corning, SGL Group, Saint-Gobain SA, Solvay SA, and Toray Industries, Inc.

Market Segmentation

By type

• Engineering plastics
  • Polycarbonates
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyamides
  • Thermoplastic polyesters
  • Polyacetals
  • Fluoropolymers
• Composites
  • Carbon fiber reinforced plastics (CFRP)
  • Glass fiber reinforced plastics (GFRP)

By end-use

• Automotive
• Aerospace and defense
• Construction
• Healthcare
• Others

By region

• North America
• Europe
• Latin America
• Asia-Pacific
• Middle East and Africa

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